Tandem Diabetes Care, Inc. to Post Q2 2024 Earnings of ($0.53) Per Share, Leerink Partnrs Forecasts (NASDAQ:TNDM)

Tandem Diabetes Care, Inc. (NASDAQ:TNDMFree Report) – Research analysts at Leerink Partnrs dropped their Q2 2024 earnings per share (EPS) estimates for Tandem Diabetes Care in a report issued on Tuesday, May 28th. Leerink Partnrs analyst M. Kratky now anticipates that the medical device company will post earnings per share of ($0.53) for the quarter, down from their previous forecast of ($0.52). Leerink Partnrs currently has a “Outperform” rating on the stock. The consensus estimate for Tandem Diabetes Care’s current full-year earnings is ($1.70) per share. Leerink Partnrs also issued estimates for Tandem Diabetes Care’s FY2024 earnings at ($1.73) EPS, Q2 2025 earnings at ($0.19) EPS, Q3 2025 earnings at ($0.15) EPS, Q4 2025 earnings at ($0.06) EPS, FY2027 earnings at $0.30 EPS and FY2028 earnings at $0.58 EPS.

Tandem Diabetes Care (NASDAQ:TNDMGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The medical device company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.80) by $0.17. The business had revenue of $191.67 million for the quarter, compared to analysts’ expectations of $173.06 million. Tandem Diabetes Care had a negative return on equity of 34.38% and a negative net margin of 18.37%.

A number of other analysts have also recently weighed in on the company. Redburn Atlantic assumed coverage on Tandem Diabetes Care in a research note on Thursday. They issued a “buy” rating and a $60.00 price target on the stock. Citigroup upgraded Tandem Diabetes Care from a “neutral” rating to a “buy” rating and raised their price target for the company from $40.00 to $57.00 in a research note on Wednesday, May 22nd. Barclays raised their price target on Tandem Diabetes Care from $39.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Wells Fargo & Company upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $21.00 to $45.00 in a research note on Monday, April 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $50.00 price objective (up previously from $35.00) on shares of Tandem Diabetes Care in a report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.58.

Check Out Our Latest Research Report on TNDM

Tandem Diabetes Care Stock Up 3.2 %

Tandem Diabetes Care stock opened at $53.43 on Thursday. Tandem Diabetes Care has a 1-year low of $13.82 and a 1-year high of $53.51. The company has a debt-to-equity ratio of 1.43, a current ratio of 3.81 and a quick ratio of 3.01. The stock has a market cap of $3.45 billion, a PE ratio of -24.62 and a beta of 1.10. The stock’s fifty day moving average is $38.92 and its two-hundred day moving average is $29.94.

Hedge Funds Weigh In On Tandem Diabetes Care

Hedge funds and other institutional investors have recently made changes to their positions in the stock. RiverPark Advisors LLC purchased a new position in shares of Tandem Diabetes Care during the fourth quarter worth about $27,000. Headlands Technologies LLC acquired a new position in Tandem Diabetes Care during the 1st quarter worth approximately $35,000. MCF Advisors LLC increased its position in Tandem Diabetes Care by 79.3% during the 1st quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after purchasing an additional 445 shares during the period. Signaturefd LLC increased its position in Tandem Diabetes Care by 871.8% during the 4th quarter. Signaturefd LLC now owns 1,691 shares of the medical device company’s stock worth $50,000 after purchasing an additional 1,517 shares during the period. Finally, Arcadia Investment Management Corp MI increased its position in Tandem Diabetes Care by 141.6% during the 1st quarter. Arcadia Investment Management Corp MI now owns 1,851 shares of the medical device company’s stock worth $66,000 after purchasing an additional 1,085 shares during the period.

About Tandem Diabetes Care

(Get Free Report)

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.

Further Reading

Earnings History and Estimates for Tandem Diabetes Care (NASDAQ:TNDM)

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